Robert Watt (Butchers) Limited SC458270 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is The principal activity of the company during the year was a Butcher. Digita Accounts Production Advanced 6.30.9574.0 true true SC458270 2022-10-01 2023-09-30 SC458270 2023-09-30 SC458270 bus:Revised 2023-09-30 SC458270 core:CurrentFinancialInstruments 2023-09-30 SC458270 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 SC458270 core:Goodwill 2023-09-30 SC458270 core:FurnitureFittingsToolsEquipment 2023-09-30 SC458270 core:LandBuildings 2023-09-30 SC458270 bus:SmallEntities 2022-10-01 2023-09-30 SC458270 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 SC458270 bus:FullAccounts 2022-10-01 2023-09-30 SC458270 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 SC458270 bus:RegisteredOffice 2022-10-01 2023-09-30 SC458270 bus:Director2 2022-10-01 2023-09-30 SC458270 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 SC458270 core:Goodwill 2022-10-01 2023-09-30 SC458270 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 SC458270 core:LandBuildings 2022-10-01 2023-09-30 SC458270 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 SC458270 countries:Scotland 2022-10-01 2023-09-30 SC458270 2022-09-30 SC458270 core:Goodwill 2022-09-30 SC458270 core:FurnitureFittingsToolsEquipment 2022-09-30 SC458270 core:LandBuildings 2022-09-30 SC458270 2021-10-01 2022-09-30 SC458270 2022-09-30 SC458270 core:CurrentFinancialInstruments 2022-09-30 SC458270 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 SC458270 core:Goodwill 2022-09-30 SC458270 core:FurnitureFittingsToolsEquipment 2022-09-30 SC458270 core:LandBuildings 2022-09-30 iso4217:GBP xbrli:pure

Registration number: SC458270

Robert Watt (Butchers) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023

 

Robert Watt (Butchers) Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Robert Watt (Butchers) Limited

(Registration number: SC458270)
Statement of Financial Position as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

5,551

Tangible assets

5

64,980

67,142

 

64,980

72,693

Current assets

 

Stocks

6

4,265

4,284

Debtors

7

3,345

17,940

Cash at bank and in hand

 

170,156

135,004

 

177,766

157,228

Creditors: Amounts falling due within one year

8

(184,960)

(150,536)

Net current (liabilities)/assets

 

(7,194)

6,692

Net assets

 

57,786

79,385

Capital and reserves

 

Called up share capital

180

180

Retained earnings

57,606

79,205

Shareholders' funds

 

57,786

79,385

For the financial year ending 30 September 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Income Statement.

 

Robert Watt (Butchers) Limited

(Registration number: SC458270)
Statement of Financial Position as at 30 September 2023

Approved and authorised by the Board on 12 February 2024 and signed on its behalf by:
 

.........................................
Mr Kris Davidson
Director

 

Robert Watt (Butchers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The Company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
69 North Street
Forfar
Angus
DD8 3BL
Scotland

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Robert Watt (Butchers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, Fittings & Equipment

15% Reducing Balance

Property

2% Straight Line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% Straight Line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Robert Watt (Butchers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual agreement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
 

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 4 (2022 - 4).

 

Robert Watt (Butchers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2022

60,524

60,524

At 30 September 2023

60,524

60,524

Amortisation

At 1 October 2022

54,973

54,973

Amortisation charge

5,551

5,551

At 30 September 2023

60,524

60,524

Carrying amount

At 30 September 2023

-

-

At 30 September 2022

5,551

5,551

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

61,384

14,507

75,891

At 30 September 2023

61,384

14,507

75,891

Depreciation

At 1 October 2022

461

8,288

8,749

Charge for the year

1,228

934

2,162

At 30 September 2023

1,689

9,222

10,911

Carrying amount

At 30 September 2023

59,695

5,285

64,980

At 30 September 2022

60,923

6,219

67,142

Included within the net book value of land and buildings above is £59,696 (2022 - £60,924) in respect of freehold land and buildings.
 

 

Robert Watt (Butchers) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

6

Stocks

2023
£

2022
£

Other inventories

4,265

4,284

7

Debtors

Current

2023
£

2022
£

Trade debtors

2,284

2,402

Prepayments

430

374

Other debtors

631

15,164

 

3,345

17,940

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

19,823

17,663

Taxation and social security

29,507

19,147

Accruals and deferred income

3,175

4,342

Other creditors

132,455

109,384

184,960

150,536